Disappointing U.S. jobs data has shaken confidence in a soft landing for the world’s largest economy, sending global equity markets tumbling and bets on interest rate cuts surging. But investors abandoning a popular yen carry trade has played a big role in the selloff, complicating the message from asset prices on the economic outlook. The …
Recession Risks Roil Markets but Not Yet Alarming Read More »
Summary Asian petrochemical margins slide to losses in 2024 Europe, Asian plant consolidation underway Asian output cuts limited by refinery ties (Reuters) – Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for two consecutive years, …
Survival of the Fittest: Petrochemical Makers Battle Global Glut Read More »
(Reuters) – Oil prices have retreated in recent weeks as traders look past the current depletion in global inventories to focus on the future threat posed by a possible slowdown in the major economies. Commercial stocks of crude and refined products in the advanced economies belonging to the Organization for Economic Cooperation and Development (OECD) …
Oil Traders Dgnore Dwindling Stocks to Focus on Economy – John Kemp Read More »
Summary Chinese, US demand seen lagging forecasts Not clear if Q3 demand is growing fast, two OPEC sources say Worries of US recession add to pressure on oil LONDON, Aug 9 (Reuters) – Global oil demand growth needs to accelerate in coming months or the market will struggle to absorb an increase in oil supply that OPEC+ …
Global Oil Demand Needs to Rise Faster to Absorb OPEC+ Hike Read More »
U.S. crude oil refiners are trimming third-quarter production plans, company executives said in recent earnings calls, as summer fuel demand ebbs and profit margins remain weak. Operators say they are budgeting more maintenance downtime into forecasts after running at an industry average 95% of capacity earlier this year. Those high oil processing levels led to …
U.S. Refiners Trim Q3 Output Amid Weaker Margins, Plant Overhauls Read More »
Acquisition of Buckshot Trucking, LLC on Track to Close Within Days Sale of Assets from Seasonal Colorado Frac Water Heating Business Consistent with Enservco Strategy to Focus Efforts on Year-Round Businesses including Opportunities Afforded by Pending Buckshot Acquisition Net Proceeds from Transaction to be Used to Pay Down Debt Under Utica Facility Significantly Reduces Company’s …
Enservco Announces Exit of Colorado Frac Water Heating Business Through Sale of Assets Read More »
DALLAS, Aug. 09, 2024 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced second quarter 2024 results and declared quarterly dividends totaling $0.17 per share. The details for today’s earnings call and webcast are listed below. Quarterly Highlights & Recent Announcements Produced 25,300 Boe/d, flat to first quarter; above the midpoint …
Berry Corporation Reports Second Quarter 2024 Financial and Operating Results Read More »
Occidental Petroleum on Thursday said it will focus on cutting debt and catching up with promised production goals before an eagerly anticipated expansion of its cash distribution program. The U.S. oil producer posted better-than-expected second quarter results on Wednesday, largely due to strong production in Colorado, lower operating costs and onetime strong midstream earnings, which …
Occidental Delays CrownRock Output Goals, Turns to Debt Reduction Read More »
Occidental Petroleum is keeping under wraps what it might sell to prevent compromising “our ability to maximize the value,” CEO Vicki Hollub said during an Aug. 8 earnings call.
Operators have been hard at work on ground game dealmaking from the Permian to Appalachia through the first half of the year, according to reports by Continental Resources, Antero Resources, HighPeak Energy and others.
